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Onion Price Hiked By 30-50% In Last 15 Days: A huge increase in onion prices is being seen in the country. Talking about the last 15 days, onion prices have increased by 30-50 percent. At present, the supply of onions in the country is decreasing, while the demand for onions has increased significantly before Eid-ul-Azha (Bakrid). Now it is expected that the central government will take some steps to control the rising prices of onions.
Onion prices increased sharply in Lasalgaon Mandi of Maharashtra
The average wholesale price of onion has increased significantly in Lasalgaon market of Nashik, Maharashtra. On Monday, the average wholesale price here was Rs 26 per kg, while on the 25th of last month, this rate was Rs 17 per kg. However, the prices of good quality onions in Maharashtra have exceeded Rs 30 per kg in many wholesale markets of the state. Since the trading volume of onions in total sales is low, their average price does not have much impact on the total price.
Why are onion prices increasing?
The recent rise in onion prices is mainly due to the difference between demand and supply. The onion that is coming to the markets and mandis since June is the stock held by farmers and traders. However, farmers fear that the rubber crop may decline in 2023-24, after which they expect onion rates to rise.
Farmers are hoping that the central government may now remove the export duty on onions and based on this hope, stockists and farmers are storing onions. They feel that after the removal of export duty, the prices of onions may increase drastically and at this time they are hoping to get a good price for their onions.
There is a slowdown in exports at the moment
At present, onion exports are slow due to 40 percent export duty. Since the festival of Eid-ul-Azha (Bakrid) will be celebrated on June 17, traders claim that domestic demand will continue to rise for some time. The demand for onion from Maharashtra, especially the southern states, is constantly increasing.
